Boston Properties Announces Tax Treatment of 1999 Distributions

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Boston Properties Announces Tax Treatment of 1999 Distributions
    BOSTON, Feb. 2 /PRNewswire/ -- Boston Properties, Inc. (NYSE: BXP), a real
estate investment trust, announced today the tax treatment of its 1999
distributions as described in the chart below.  Shareholders are encouraged to
consult with their personal tax advisors as to their specific tax treatment of
Boston Properties distributions.

            Income
            Allocations
            F=Final       Security                     Ticker        Issuer
    Status  E=Estimated  Description       CUSIP       Symbol        Class.
            S=Split
                           Common         101121101      BXP            1
                           Common         101121101      BXP            1
                           Common         101121101      BXP            1
                           Common         101121101      BXP            1
                           Common         101121101      BXP            1
      S   Taxable
           in 2000         Common         101121101      BXP            1

                           Preferred      101121200      BXP            1
                           Preferred      101121200      BXP            1
                           Preferred      101121200      BXP            1
                           Preferred      101121200      BXP            1

            Income
            Allocations                                   Cash       Taxable
            F=Final     Declaration  Record   Payable  Distribution  Ordinary
    Status  E=Estimated     Date      Date      Date     Per Share   Dividend
            S=Split
                         12/22/98   12/30/98   1/28/99    $0.4232     $0.4232
                          3/22/99    3/31/99   4/28/99    $0.4250     $0.4250
                          6/21/99    6/30/99   7/28/99    $0.4250     $0.4250
                          9/16/99    9/30/99  10/28/99    $0.4500     $0.4500
                         12/17/99   12/30/99   1/28/00    $0.3583     $0.3583
      S   Taxable
           in 2000       12/17/99   12/30/99   1/28/00    $0.0917     $0.0917


            F             Totals for 1999 COMMON STOCK    $2.0815     $2.0815

                         Ratified by Board     2/16/99    0.04110     0.04110
                         February 10, 1999
                          3/22/99    3/31/99   5/17/99    0.64795     0.64795
                          6/21/99    6/30/99   8/16/99    0.68562     0.68562
                          9/16/99    9/30/99  11/15/99    0.68562     0.68562
            F             Totals for 1999
                           PREFERRED STOCK               $2.06029     $2.06029

    Boston Properties is a fully integrated, self-administered and
self-managed real estate investment trust that develops, redevelops, acquires,
manages, operates and owns a diverse portfolio of Class A office, industrial
and hotel properties.  The Company is one of the largest owners and developers
of Class A office properties in the United States, concentrated in the
Northeast Corridor from Virginia to Greater Boston and in Greater San
Francisco.
    To receive Boston Properties' latest news and corporate developments via
fax at no cost, please call 1-800-PRO-INFO; use company code BXP.  Visit the
Company's web site at http://www.bostonproperties.com .  Also see
http://www.frbinc.com .
SOURCE Boston Properties, Inc.
http://www.bostonproperties.com
CONTACT:
Elaine Quinlan of Boston Properties, Inc.,
617-236-3300